Ag News: ADM Success Amid Tariffs
**Archer-Daniels-Midland, the 116-year-old agribusiness giant, is shaping up as one of the few crop-trading houses to benefit from the trade war with China.
Agweb.com reports the Chicago-based firm reported better-than-expected earnings for a fourth straight quarter, with soybean crushing the main driver of growth. ADM has also been able to find customers outside of China after Beijing slapped a 25-percent retaliatory tariff on American soybeans this year.
ADM is successfully navigating markets battered by both the trade war and droughts from Argentina to Russia.
**During the recent American Society of Farm Managers and Rural Appraisers annual meeting at least one D.C. analyst is optimistic a Farm Bill can get passed during the lame duck session of Congress.
According to agweb.com, Farm Journal policy analyst Jim Wiesemeyer says there’s an 80% chance the Farm Bill will be passed before the new congress is installed.
He says if congress doesn’t pass a farm bill in lame duck, they’re worse off than I thought.
**An important U.S.-Chinese meeting took place ahead of the G20 summit in Argentina later this month. Last week, Secretary of State Mike Pompeo and Defense Secretary James Mattis met with high-ranking Chinese policymakers in
Washington, the second time the two sides have met.
Pompeo tells agweb.com both sides had constructive dialogue, calling the discussions incredibly productive, but says there are still significant differences.
A Chinese official called the dialogue candid, constructive and productive.